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What Types of Insurance do you Need for your Small Business

 

There are four types of insurance that most small businesses purchase: property insurance, vehicle insurance, liability insurance, and umbrella policies.

Property Insurance

Property insurance provides compensation if business property is damaged, stolen or lost.

In addition to covering the physical business structure, property insurance covers personal property. This includes inventory, office furnishings, raw materials, computers, machinery and other items that are part of business operations.

Business Vehicle Insurance

Business auto insurance policies afford coverage for vehicles that are owned and used by a business.

Liability Insurance

Liability coverage provides compensation for damages a company is liable for. These policies usually also provide funds for legal defense expenses, attorneys' fees, medical bills and several other related expenses.

Umbrella Policies/Specialized Liability Policies

Umbrella policies, much like an umbrella, cover above and beyond the normal inclusions. These are usually obtained to prevent high losses by businesses with high risks.

If you’re curious to see if you have enough coverage on your business, or what would be included in a Specialized Liability Policy, drop me a line, and we’ll get the best coverage in place for your small business.


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Frances Zettl